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Luxury Home Sales Surge Despite Overall Market Slowdown in 2024

share-iconSunday, December 29 comment-icon3 weeks ago 20 views
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salonSALON
Luxury Home Sales Surge Despite Overall Market Slowdown in 2024

Credited from: SALON

  • Luxury home sales increased by 5.2% in the first half of 2024, contrasting sharply with a 12.9% decline in overall home sales.
  • A record $210 million Malibu mansion sale now holds the title for California's most expensive home.
  • High-profile transactions included Kendrick Lamar's $40M mansion and a record $135 million penthouse in New York City's Aman Hotel.
  • Economic factors like higher mortgage rates and limited inventory continue to challenge average homebuyers.
  • The year 2024 is on track for just 4 million home sales, the lowest in nearly 30 years, indicating a stark divide in the real estate market.

For further details, visit the original article at Salon.

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Luxury real estate Home sales 2024 market Billionaire purchases Record sales
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Gloria Terra

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